Citigroup Inc. raised its holdings in K12 Inc (NYSE:LRN) by 495.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,166 shares of the company’s stock after purchasing an additional 32,592 shares during the period. Citigroup Inc. owned approximately 0.10% of K12 worth $702,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of LRN. BNP Paribas Arbitrage SA boosted its holdings in K12 by 167.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,188 shares of the company’s stock valued at $129,000 after purchasing an additional 4,499 shares during the period. SG Americas Securities LLC bought a new stake in K12 in the 2nd quarter valued at about $131,000. Legal & General Group Plc boosted its holdings in K12 by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 8,346 shares of the company’s stock valued at $150,000 after purchasing an additional 298 shares during the period. UBS Asset Management Americas Inc. bought a new stake in K12 in the 1st quarter valued at about $255,000. Finally, AXA bought a new stake in K12 in the 2nd quarter valued at about $258,000. 79.51% of the stock is owned by hedge funds and other institutional investors.
In other K12 news, CFO James Jeaho Rhyu sold 10,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $18.00, for a total transaction of $180,000.00. Following the completion of the transaction, the chief financial officer now owns 203,408 shares in the company, valued at $3,661,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 55,000 shares of company stock valued at $990,850 in the last quarter. Company insiders own 18.34% of the company’s stock.
A number of analysts have issued reports on LRN shares. Zacks Investment Research raised shares of K12 from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Thursday, August 10th. TheStreet downgraded shares of K12 from a “b-” rating to a “c+” rating in a report on Thursday, August 17th. Finally, BidaskClub downgraded shares of K12 from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.67.
Shares of K12 Inc (NYSE:LRN) opened at 17.39 on Wednesday. The company has a market cap of $672.68 million, a P/E ratio of 1739.00 and a beta of -0.23. The firm has a 50-day moving average of $17.63 and a 200-day moving average of $18.42. K12 Inc has a 12-month low of $10.17 and a 12-month high of $21.18.
K12 Company Profile
K12 Inc (K12) is a technology-based education company. The Company offers curriculum, software systems and educational services designed to facilitate individualized learning for students in kindergarten through 12th grade (K-12). It provides a continuum of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools and families.
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